NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Myriad Genetics, Inc. (“Myriad Genetics” or the “Company”) (NASDAQ: MYGN). The investigation concerns whether the Company and/or members of its senior management may have violated federal securities laws or engaged in other unlawful business practices.
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What Happened?
On July 30, 2026, Myriad Genetics reported that its second-quarter revenue declined 11% year-over-year to 190.7 million and average revenue per test declined 9%. The Company reduced its full-year 2026 revenue guidance to $770 to 790 million and revealed an $11 million reduction in revenue due to changes in collection estimates for tests completed in prior periods. Additionally, Myriad reported that hereditary cancer testing revenue declined 13%, despite an 8% increase in volume, attributing the decline to lower reimbursement and unfavorable estimate changes associated primarily with first-quarter 2026 orders. Management stated that payer-generated revenue-cycle friction was “not new” and identified changing prior-authorization requirements, increased medical-record requests, and higher denial rates. Management acknowledged that the Company “should have engaged earlier and more directly with payers as conditions evolved” and that earlier intervention “could have reduced the downstream impact.” On this news, Myriad’s stock price declined by $2.51, or 47%, to close at $2.86 on July 31, 2026.
What Should I Do?
At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.
If you purchased or otherwise acquired Myriad securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
investigations@kmllp.com
